Black Hills Corp, a South Dakota-based utility, has signed an agreement with Google to power a data center campus in Cheyenne, Wyoming. The contract runs through 2048 and relies on an approximately 2.7 GW energy mix, combining 590 MW of grid-connected power and 2.1 GW through a microgrid. Black Hills plans to invest $1.8 billion between 2027 and 2029, including 564 MW of natural gas capacity at the Cheyenne Prairie Generating Station. Google is covering all project costs, including a $399 million advance already paid. In return, Black Hills anticipates roughly $150 million in additional net income by 2030 and approximately $2.4 billion in unlevered free cash flow over the contract duration. The group is also pursuing a merger with NorthWestern Energy to strengthen its position with major technology clients.
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